June 22, 2024

Advancing Digital Growth

Pioneering Technological Innovation

Indonesian FinTech unicorn Xendit expands to Thailand

4 min read

Xendit, a unicorn startup based in Indonesia, has entered the Thai market by offering comprehensive digital payment solutions and embedded finance, aiming to enhance the growth potential of Thailand’s digital economy.

Xendit said in a statement on Tuesday that the digital economy continues to grow, and Xendit is advancing its strategy to penetrate the Southeast Asian fintech market with a new step into Thailand.

It said the firm offers digital financial solutions to a diverse customer base, ranging from small and medium-sized enterprises (SMEs) to large regional corporations.

With the mission “Making Payments Simple,” the firm aims to make payments easier and more convenient by being committed to creating the best payment infrastructure in Southeast Asia.

Moses Lo, Co-Founder and Chief Executive Officer of Xendit Group, stated that Xendit is a financial technology company with a strong foundation in Southeast Asia, providing financial solutions for various businesses from small SMEs to large corporations, aiming to make the payment process more convenient.

According to him, the firm offers a safe and easily integrated payment infrastructure, supported by a professional team dedicated to providing close customer care for the best service.

It is noted that since its launch in 2015, Xendit has gained trust from various businesses in Indonesia and regulators, managing financial solutions for leading companies such as Traveloka, Garuda Indonesia, and Tech in Asia, among others.

Following its impressive success in Indonesia, Xendit has expanded its business into the Philippines and Malaysia, adapting its service strategies according to the local areas and business needs of each country to help propel business expansion and rapid growth.

Taking into account the diverse user needs in each area, he said Xendit is prepared in 2024 to serve as a regional payment infrastructure provider under its mission “Making Payments Simple”.

According to him, this initiative aims to enhance the opportunity for businesses in Thailand to expand their digital transaction capabilities across Southeast Asia, simply by connecting with Xendit’s modern system.

“Expanding into new markets is not just about reaching new customers; we believe in empowering businesses with the tools they need to thrive,

“At Xendit, our mission has always been to build the best digital payment infrastructure for Southeast Asia and to make payment processes simple,” he said.

By expanding into Thailand, he said the firm is taking another step towards making that vision a reality for even more people.

Tessa Wijaya, Co-founder and Chief Executive Officer of Xendit Thailand, mentioned that Xendit currently serves over 6,000 clients across Southeast Asia, with more than 320 million transactions per year through payment processing, international money transfers, business operations, and shop management, along with many other digital financial services.

According to her, the firm’s customers range from small SMEs and e-commerce startups to large enterprises.

She said Xendit plans to develop its services with a variety of products, offering great value and accessibility to all customer groups.

According to her, the services highlight simple (providing a secure payment system that is easy to integrate); speed (fast verification and connection); service (24/7 care with world-class standards).

She said Xendit aims to identify and solve payment system needs for each company and is ready to create solutions that fit the digital payment market in Thailand, targeting groups from small shops and startups dreaming of regional expansion to large regional corporations.

“At Xendit, we believe in breaking barriers and empowering local businesses through global connectivity and seamless digital transactions,

“With our hyperlocal expertise and global best practices, we will be bringing more local payment methods and direct integrations to banks in Thailand that can help to catalyze economic progress and drive positive change for the communities,” she added.

According to the statement, Xendit also collaborates for its expansion in Thailand with financial experts like Korn Chatikavanij, who has joined as an advisor and Chairman of the company.

“Payments is an extremely important cog in the overall economic machine,

In the digital age, a world class robust payments system is essential for success,” said Chatikavanij.

According to him, Xendit will work closely with Thai financial institutions as well as directly with local businesses to deliver world class service and technology.

“We will collaborate with regulators to ensure transparency and good governance in all our activities,” he said.

He also said this partnership aims to drive innovation, elevate the potential for economic growth in the digital economy, and develop financial technology in Thailand sustainably.

Xendit is a financial technology company that provides payment solutions and simplifies payment processes for businesses in Indonesia, the Philippines, Malaysia and Southeast Asia, from SMEs, startups, e-commerce to large companies.

The firm supports some of the fastest growing brands in Southeast Asia, including Traveloka, Wish and Grab.

Indonesia’s Xendit enters Malaysia, invests in local fintech player Payex


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